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As the intensive moves to recover banks’ debt by the Economic and Financial Crimes Commission (EFCC) continues, the Nigerian Bar Association, NBA, has condemned the CBN, EFCC and other security agencies for hiding under the guise of banks’ predicament to turn itself into a debt recovery agent.
But Nigerians are not surprised by this outburst seeing that the NBA has always aligned itself with the looters of the Nigerian economy.
The NBA further stated that transactions between customers and banks are contractual and that the security agencies should not term those in the transaction as criminals on mere imputation, and arresting alleged debtors without clarity.
In a communiqué issued at the end of its annual conference in Kaduna which was signed by SLP's Chairman, Funke Adekoya (SAN), it said, "The SLP deprecates the attitude of the EFCC and security agencies which have turned themselves into debt recovery agents.
'Culpable Bank executives should be in jail or even be shot dead' - Sanusi
This will shock you. Make you angry. Leave you at a boiling point and leave you thoroughly mentally and spiritually exhausted.
It is the story of how the former governor of Nigeria’s Central Bank, Chukwuma Soludo connived with the Bank executives to ruin the Nigeria Banking System and destroyed families and people’s investment and left Sanusi Lamido Sanusi to clear the rot. In the end, the story will help you to know you don't have to envy all those fools looting Nigeria blind and throwing their evil wealth around. Their end is nigh
Move over Switzerland. The tiny state of Delaware beats the Alpine country in a contest for the most secretive financial jurisdiction, a tax justice rights group said on Saturday.
The United States, led by the eastern seaboard state, took in $2.6 trillion in deposits from non-resident corporations and individuals in 2007, according to a survey of financial jurisdictions analyzed by the Tax Justice Network.
The survey of laws, practices and size of inflows in 60 jurisdictions found Delaware coming in first, 
followed by Luxembourg and then Switzerland. The Cayman Islands and the United Kingdom round out the top five.
"While the U.S. has been jumping up and down and saying 'Aha, bad, wicked Swiss banks,' the U.S. is doing exactly the same things as far as non-resident bank account holders," said Sarah Lewis, executive director of the group, based in the U.K.
Switzerland has been the poster child for financial secrecy over the past year. The United State sued Swiss global banking giant UBS AG, which paid a $780 million fine to settle a lawsuit against it by the government. As part of the deal, UBS admitted it actively helped Americans evade U.S. taxes.
The ranking is based on a composite of total offshore activity and measures such as whether a jurisdiction obtains beneficial ownership information about companies and the degree of cooperation in turning over requested financial information.
In May 2009, Mrs. Ekwunife L. Akabogu signed as a contract emp
loyee at the Enugu branch of Skye Bank Plc (the bank), based in Lagos, Nigeria. For the salary of N45, 000, Akabogu joined the Bank under the title of Priority Sales Support Officer and was posted to the Enugu branch for a period of six months, at which point her employment would be up for review.This new position signified the realization of a longtime desire for Akabogu—to work in a corporate atmosphere. She applied for the position following ample suggestion from various parties that she possessed the skills and attributes suitable for the banking industry. It did not take Akabogu long however to realize the ulterior motives behind the flattery Once Akabogu had agreed to the contract, the Branch Manager asked if she was familiar with Chief Christian Uba of the PDP, a client whom the Bank had been unsuccessfully wooing for some time. Upon admitting her acquaintance with Chief Uba, the Manager suggested tha
t in order to prove her dedication to her new employer, Akabogu pursue Chief Uba on the Bank’s behalf. The Manager made clear that he did not wish to know the details of what would transpire however, yet assured Akabogu that Uba would be interested in a quid pro quo agreement and that the end would certainly justify the means.She told her husband, who suggested that she ignore the request. Once the Bank recognized that she was unwilling to partake in the scheme, they corralled her involvement in the Bank’s activity to only fixed deposits and certain priority accounts, which she sees as bogus free Priority Passes for lounge access that the Bank uses to pilfer money from clients through hidden charges (interest, ATM and guest fees, lounge beverages), which
the Bank officers are prohibited from warning the patrons about. More common practice (as is practiced at Barclay’s) is to have an upfront fee for the Priority Pass and then offer services and amenities within the Pass free of charge.
Nigeria's former vice-president and opposition leader Atiku Abubakar is included in a list released by the Central Bank of major bank debtors.
The list says Mr Abubakar owes 111m naira ($730,000; £450,000) - though he says he will pay the money back.
It also names 600 others who owe a total of $2.5bn.
The non-repaying of these debts is a major factor in the recent government takeover of several banks, and has caused a scandal in the country.
The BBC's Caroline Duffield in Lagos says the latest move by the Central Bank marks the end of its forensic audit of Nigeria's 24 financial institutions.
The scandal emerged in August as the government stepped in to take control of five banks - sacking their management teams.
Four chief executives were arrested - they are now being prosecuted on multiple fraud charges.
A fifth chief executive is on the run - he is thought to be in the UK, our correspondent says. Powerful people
The list of debtors to the Bank PHB, Equitorial Trust Bank, Spring Bank and Unity Bank was posted on the Central Bank website on Wednesday evening. Debts owed to a fifth bank, Wema Bank, have not been revealed. 
Other powerful people on the list include:
• Aliko Dangote, president of Nigeria's Stock Exchange, who is Africa's wealthiest man
• Culture M
inister Adetokunbo Kayode
• Peter Ololo, a stockbroker, who has the largest debt of more than $110m.
Our reporter says Mr Ololo was previously relatively unknown to the public, but has been dubbed ''the man who brought down the banks'' by Nigeria's press.
The North has launched fresh moves to seize the current fallout of the reforms in the banking sector to significantly increase its shareholding in the sector. The move by the North was part of the resolution at its recent meeting held in Kaduna which communiqué was not released to the public.However reliable sources at the meeting told The Nation that the meeting decided on a comprehensive mobilisation of its elites towards taking control of a chunk in the banks' shares. To achieve the dream, the Arewa Consultative Forum, ACF's National Working Committee, NWC has set up a committee to implement the plan. The Nation reliably gathered that the issue was part of the main agenda during the ACF National Working Committee's last two meetings in Kaduna . An aspect of the resolution obtained by our correspondent stated: “On issues concerning the banking sector, the (ACF) chairman stated that a committee was set up by the National Working Committee in order to address the issue. It stated that 'the North must take advantage of any opportunity of acquiring equities in the banking sector.” The decisions were contained in a resolution reached at the end of its July 1 meeting and signed by ACF's chairman, General I.B.M. Haruna (rtd) and its Secretary-General, Colonel Musa Shehu (rtd). Another meeting held on September 30 also reaffirmed this position. The Nation learnt that more rigorous discussion of the issue took place at the September meeting.The meeting presided over by General I.B.M. Haruna (rtd) exhaustively discussed issues surrounding mobilization of northerners for decisive investment towards acquiring worthwhile equity holdings in the banking industry
